Answer :
Sure, let's go through the problem step-by-step.
First, let's define the values given in the problem:
- Food cost per portion = [tex]$7.22 - Standard food cost percentage = 28% - GST (Goods and Services Tax) = 15% ### a) Calculate the profitable selling price of the dish. We can find the profitable selling price by dividing the food cost per portion by the standard food cost percentage (expressed as a decimal). #### Formula: \[ \text{Profitable Selling Price} = \frac{\text{Food Cost per Portion}}{\text{Standard Food Cost Percentage}} \] First, convert the standard food cost percentage to decimal: \[ \text{Standard Food Cost Percentage} = \frac{28}{100} = 0.28 \] Now plug in the values: \[ \text{Profitable Selling Price} = \frac{7.22}{0.28} = 25.7857 \] Rounding to two decimal places: \[ \text{Profitable Selling Price} = 25.79 \] ### b) Calculate the GST. To find the GST amount, multiply the profitable selling price by the GST rate (expressed as a decimal). #### Formula: \[ \text{GST} = \text{Profitable Selling Price} \times \text{GST Percentage} \] Convert the GST percentage to decimal: \[ \text{GST Percentage} = \frac{15}{100} = 0.15 \] Now plug in the values: \[ \text{GST} = 25.79 \times 0.15 = 3.8685 \] Rounding to two decimal places: \[ \text{GST} = 3.87 \] ### c) What is the GST-inclusive selling price of the dish? The GST-inclusive selling price is the total price after adding the GST to the profitable selling price. #### Formula: \[ \text{GST-inclusive Selling Price} = \text{Profitable Selling Price} + \text{GST} \] Now plug in the values: \[ \text{GST-inclusive Selling Price} = 25.79 + 3.87 = 29.66 \] ### Summary of results: - Profitable Selling Price: $[/tex]25.79
- GST: [tex]$3.87 - GST-inclusive Selling Price: $[/tex]29.66
First, let's define the values given in the problem:
- Food cost per portion = [tex]$7.22 - Standard food cost percentage = 28% - GST (Goods and Services Tax) = 15% ### a) Calculate the profitable selling price of the dish. We can find the profitable selling price by dividing the food cost per portion by the standard food cost percentage (expressed as a decimal). #### Formula: \[ \text{Profitable Selling Price} = \frac{\text{Food Cost per Portion}}{\text{Standard Food Cost Percentage}} \] First, convert the standard food cost percentage to decimal: \[ \text{Standard Food Cost Percentage} = \frac{28}{100} = 0.28 \] Now plug in the values: \[ \text{Profitable Selling Price} = \frac{7.22}{0.28} = 25.7857 \] Rounding to two decimal places: \[ \text{Profitable Selling Price} = 25.79 \] ### b) Calculate the GST. To find the GST amount, multiply the profitable selling price by the GST rate (expressed as a decimal). #### Formula: \[ \text{GST} = \text{Profitable Selling Price} \times \text{GST Percentage} \] Convert the GST percentage to decimal: \[ \text{GST Percentage} = \frac{15}{100} = 0.15 \] Now plug in the values: \[ \text{GST} = 25.79 \times 0.15 = 3.8685 \] Rounding to two decimal places: \[ \text{GST} = 3.87 \] ### c) What is the GST-inclusive selling price of the dish? The GST-inclusive selling price is the total price after adding the GST to the profitable selling price. #### Formula: \[ \text{GST-inclusive Selling Price} = \text{Profitable Selling Price} + \text{GST} \] Now plug in the values: \[ \text{GST-inclusive Selling Price} = 25.79 + 3.87 = 29.66 \] ### Summary of results: - Profitable Selling Price: $[/tex]25.79
- GST: [tex]$3.87 - GST-inclusive Selling Price: $[/tex]29.66
